Denmark's Pandora posts lower prelim Q4 sales on weak consumer sentiment

January 9, 2026 6:11 AM EST

Pedestrians walks past a branch of the Danish jewellery maker Pandora in central Copenhagen, Denmark, August 13, 2025. REUTERS/ Tom Little

Overview

* Jewellery brand's ⁠preliminary Q4 2025 ⁠organic ‍growth at4%, EBIT margin around 33.5% * Company faced weak consumer sentiment in North Americaduring Q4 ‍2025 * Pandora to announce full-year results and strategicpriorities ​on February 5, 2026

Outlook

* Pandora expects 2025 organic growth of 6%, ​below priorguidance of 7-8% * Pandora anticipates 2025 EBIT margin to be around 24% * New CEO plans to reduce commodity exposure and outline2026 ​priorities

Result Drivers

* WEAK CONSUMER SENTIMENT - Pandora cited weak consumersentiment in North America as a factor impacting Q4 ​2025performance * COST DISCIPLINE - Strong gross margins and cost controlhelped offset external headwinds, according ‌to Pandora * REGIONAL VARIATIONS - Mixed performance across regionswith strong growth in Spain and Poland, but ​weakness in Italyand Latin America

Key Details

Metric Beat/Mis Actual Consensu

s s

Estimate

Q4 ⁠Sales DKK

11.90

bln

Q4 EBIT DKK 4

bln

Q4 EBIT 33.50%

Margin

Analyst Coverage

* The current average analyst rating on the shares is "hold"and ‌the breakdown of recommendations is 9 "strong buy" or "buy",8 "hold" and 3 "sell" or "strong sell" * The average consensus recommendation for the apparel &accessories peer ‌group is "buy." * Wall Street's median 12-month price target for Pandora A/Sis DKK828.00, ‌about 22.4% above its January 8 closing price ofDKK676.40 * The stock recently traded at 9 times the next 12-monthearnings vs. a ‍P/E of 11 three months ago

Press Release:

For questions concerning the data in this report, ⁠contact . For any other questions or feedback, contact .

(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)



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